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Euro. Bears continue to execute

24 November 2016, EUR/USD

Daily chart: the lower Bollinger band does not look reassuring for those who are waiting for euro trend change - this dynamic level of support has settled in 1.0465 position and now the shot in this direction is quite possible. ADX is still in active trend position, it seems that euro will continue to fall.

Euro. Bears continue to execute

Н4: undoubtedly, there are signs of "fatigue" of the downtrend (such as, for instance, the convergence marked on the oscillator). However, the pair might drop lower from the resistance line to 1.0601 (middle Bollinger band)

Euro. Bears continue to execute

Н1: interim resistance of 1.0556 will also test the correction potential of bulls. Local support is in 1.0502 (lower Bollinger band).

Euro. Bears continue to execute

Expectations: decline from 1.0556 to 1.0601 position (there is no sense in distinguishing these two positions as separate scripts). Expected support levels: 1.0502 and 1.0465.

Trading solutions: sell from 1.0556 and 1.0601 positions (an additional signal of your trading systems for opening transactions might be needed on these levels).

Aleksey Panasenko
Analyst of «FreshForex» company
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